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RBAC - RedBall Acquisition News Story

$9.98 -0.0  -0.3%

Last Trade - 4:02pm

Mid Cap
Market Cap £628.0m
Enterprise Value £626.8m
Revenue £n/a
Position in Universe 2961st / 6848

UPDATE 1-Red Sox owner to take Fenway Sports public through merger with RedBall - source

Sat 10th October, 2020 2:39am
(Changes source to person familiar with the matter)
    By Kanishka Singh
    Oct 9 (Reuters) - Boston Red Sox owner John Henry is in
talks with RedBall Acquisition Corp to take his famed sports
holding company Fenway Sports Group LLC public, a person
familiar with the matter told Reuters late on Friday.
    The deal being discussed would merge Fenway Sports Group
with RedBall Acquisition Corp and will value the owner of the
Liverpool Football Club at around $8 billion including debt, the
source said, asking not to be identified.
    The talks were reported earlier by the Wall Street Journal
newspaper, which said the discussions are in the early stage and
could still fall apart.
    The newspaper also said RedBall, which raised $575 million
in August to buy businesses in sports and sports-related media
and data analytics, plans to raise an additional $1 billion to
buy a stake in Fenway Sports Group that will not exceed 25%.
    RedBall, a special purpose acquisition company (SPAC), is
co-chaired by former Goldman Sachs banker Gerald Cardinale and
baseball executive Billy Beane, who shot to fame with Michael
Lewis's book "Moneyball: The Art of Winning an Unfair Game."

 (Reporting by Kanishka Singh and Sabahatjahan Contractor in
Editing by Sonya Hepinstall)
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